Dear all,

It has been an extremely busy and hectic period with the U.S. indices clocking in their largest record weekly percentage drop last week.

This week, Singpost caught my attention. Singpost has fallen 17.4% from its intraday high of $0.950 on 3 Jan 2020 to close at $0.785 today which is the lowest close since 5 May 2009. RSI closes at a grossly oversold level 10.7, almost at an all-time low last seen in June 2003.

Why does it attract my attention? Read on for more.

Chart – Seems to indicate selling pressures may ease in the near term

Based on Chart 1 below, Singpost is entrenched in a downtrend, evidenced by the declining downtrend line. All the exponential moving averages (“EMAs”) are trending lower with death cross formations. However, two interesting developments caught my attention.

a) A doji forms today with above average volume

A doji forms